|Real||Cruzeiro real||Cruzeiro||Cruzado novo|
|Cruzado||Cruzeiro novo||Cruzeiro antigo||Real|
The present-day currency of Brazil is the real, having the ISO 4217 code BRL, the symbol R$, is subdivided into 100 centavos, and was also the currency during the period 1690 to 1942. The current plural form is reais, on the contrary of the plural réis used when the first real was used.
The coinage in Brazil started circulating after the landing in the region of the Portuguese on April 22, 1500, with the fleet of the navigator Pedro Álvares Cabral. In addition to the Portuguese real used by the first settlers, in 1654 money having the name "real" was printed by the Dutch in the Brazilian Northeast.
In 1690 the real became the official currency of Brazil, continuing circulating during the Empire of Brazil (founded in 1822), and the Republic (founded in 1889). Due to inflation, the base currency unit became the mil réis at the beginning (one thousand réis) and the conto de réis (one million réis) at the end of the República Velha (Old Republic, 1889 to 1930). In 1846 Brazil adopted the gold standard, with the mil réis equivalent to 822.076 mg of gold, then devaluated to 180 mg of gold in 1926. In 1933 Brazil pegged the mil réis to the U.S. dollar at a rate of 1 dollar = 12 mil réis.
The cruzeiro was the currency circulating in Brazil from 1942 to 1967, from 1967 to 1986, and again between 1990 and 1993. In 1942, the real was replaced by the cruzeiro at a rate of 1 mil réis = 1 cruzeiro.
The first cruzeiro was named Cruzeiro antigo, had the symbol Cr, the ISO 4217 code BRZ, and it was subdivided into 100 centavos.
In 1967, the cruzeiro antigo was replaced by the cruzeiro novo, with the rate of 1 cruzeiro novo = 1000 cruzeiros antigo. The symbol for the cruzeiro novo was NCr, and the ISO 4217 code BRB.
The word "novo" for the new currency appeared only on the provisional issue of banknotes. In 1986, Brazil switched to the cruzado, worth 1000 cruzeiros (novos).
In 1986 the Brazilian cruzado replaced the second cruzeiro at a rate of 1000 cruzeiros novos = 1 cruzado. This currency had the symbol Cz$, the ISO 4217 code BRC, and it was subdivided in 100 centavos.
The first cruzado was replaced by the cruzado novo in 1989 at a rate of 1000 cruzados = 1 cruzado novo.
In 1990, Brazil switched back to using the name cruzeiro for its currency, as the third cruzeiro replaced the second cruzado at par. The ISO 4217 code for the new currency was BRE and the symbol was Cr$.
In1993 the third cruzeiro was replaced by the cruzeiro real.
Between August 1st, 1993 and mid-1994 the currency of Brazil was the cruzeiro real (plural form: cruzeiros reais). The ISO 4217 code was BRR, and it was subdivided in 100 centavos. The cruzeiro real replaced the third cruzeiro, at a rate of 1000 cruzeiros = 1 cruzeiro real.
The cruzeiro real was replaced by the real at a rate of 1 real = 2750 cruzeiros reais.
On July 1, 1994 the modern real (symbol R$) was introduced as part of a plan to stabilize the Brazilian economy. It replaced the cruzeiro real at a rate of R$1.00 = 1 unidade real de valor, a non-circulating currency pegged to the U.S. dollar at parity. The real was subdivided into 100 centavos.